Does Fifth Third Bank hold your deposits longer than they told you? Are you being charged overdraft fees because your funds were not available when they told you they would be? When you called customer service for help, were they rude or unwilling to assist you?
Fifth Third Bank offers multiple services including checking and savings accounts, credit cards, loans, and mortgages. There have been 1,012 complaints reported to the Better Business Bureau about Fifth Third Bank over the past three years. Some of the most frequent customer complaints include:
Issues with Checking Accounts
Customers report a variety of problems with their checking accounts. New accounts that are opened have excessive wait times when deposits are being made. These deposit holds are often not communicated to customers when they first open their accounts and can run as long as 10 to 30 days. In other cases, customers are able to open a bank account online only to have it closed at a later date due to their credit report.
Other complaints include ATM’s not dispensing funds to the customer, yet they are deducted from their bank account. Customers often spend a significant amount of time calling customer service or visiting the branch to resolve this issue and have the funds placed back into their account.
Another common customer grievance occurs when they close their bank accounts. Customers report either calling customer service or visiting the branch in-person to close their accounts. The following month, they often receive a statement showing the account still open and fees being charged.
Problems with Mortgages and Loans
A top customer complaint of Fifth Third Bank is how their mortgages and loans are handled. Those who hold loans with the bank who make their monthly payments by check or online complain that they did not receive the full number of payments due in their coupon book. They often have more payments due after the coupon book runs out, but do not receive an additional book or invoices in the mail to pay. Others who financed their cars through Fifth Third Bank report that they don’t receive the title of the car when it’s been paid off and often have to pay to get one from their local department of motor vehicles.
Mortgage holders report frustrations when their mortgages are taken over by Fifth Third Bank. They are often stuck with making a duplicate payment the month that their account is taken over because Fifth Third does not have a record of their last payment. They also experience problems with their insurance and property tax payments being made timely, or at all. Some report receiving multiple refund checks for their escrow accounts. When they deposit them, some checks are returned due to stop payment, yet they were not notified by Fifth Third Bank that there was an issue.
Poor Customer Service
One of the top complaints that customers have about Fifth Third Bank is the quality of service that they receive when they call in or visit a branch. Many report unhelpful and rude service personnel that do not help them resolve their problems. In some cases, the customer service representatives appear to be uninformed about the bank’s policies and tend to put customers on long holds while a supervisor is tracked down. Frustrated customers report being on hold several minutes and, in some cases, being cut off. In other cases, customers are promised a call-back from a supervisor that never comes.
If you have been struggling to resolve a problem with your checking, savings, loan, or mortgage account with Fifth Third Bank and can’t seem to get any relief, there may be help for you. FairShake works with people who have tried to fix their problems with Fifth Third Bank but are unable to do so. If you are tired of high fees and poor service, find out how we can help you.
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